Danske Bank names new CEO to distance itself from scandal

Denmark's largest bank says it has named an interim chief executive in what seems to be an attempt to more quickly address a massive money laundering scandal involving its Estonian subsidiary.

Danske Bank reversed a previous announcement that Thomas Borgen would remain as CEO until a permanent replacement had been found. Borgen resigned last month after an internal investigation found that some 200 billion euros ($235 billion) flowing through the bank's accounts from 2007 to 2015 was suspicious

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It said Monday that Jesper Nielsen will temporarily take over.

The probe was commissioned last year following reports that dirty money was flowing through the Baltic subsidiary, including from family members of Russian President Vladimir Putin.

The findings prompted Denmark's financial regulator to reopen a probe and Danish prosecutors have started a criminal investigation.